Notes: Two major contenders in Iran presidential elections are Hassan Rouhani, who is a present president and Ebrahimraisi – A conservative and favorite to the establishment. Establishment is critical of Iran Nuclear deal and is dismissing Rouhani as pro west and anti revolution. As of now, Rouhani enjoys support of majority Iranians but withdrawal of another conservative candidate Mohammad BagherGhalibaf can intensify competition. If conservatives win elections it is a reflection of ideological deadlock towards a new revolution of values.

Notes: IIP and annual survey of industries are at logger heads with each other and IIP is been not reflecting ground realities. Aim of IIP is to capture direction and the trend of industrial production in the country. It failed to serve this purpose. The reasons are

1. Basket of goods used to calculate IIP was frozen. No new items are not been added.

2. Base year has remained at 2004-05.

Present revision has made following changes.

1. Base year is changed to 2011-12.

2. Items coverage is expanded to 809 items against 620 earlier.

3. Instead of periodic basket revisions, a permanent standing arrangement is being put in place to make sure that IIP remains representative.

The above changes are made on the recommendations of a committee headed by Saumitrachatterjee.

Notes: Interconnected world has brought new vulnerabilities and ransomware is a reflection of one such a thing. It shall be a wake up call for Governments across the world to develop global rules on cyber threats. Added to this, crypto currencies like bitcoins that cannot be traced need to be regulated.

To Remember: Ransomware – wanna cry

Carry home points: global framework need to be developed on cyber security.

Article: Gold Shines

Context: Increased import burden of gold.

Notes: gold imports have remarkably increased in April month and they are tripled compared to last year. It can add to trade deficit for India. It is the high time India’s focus shall shift to more productive investments.

New Financial instruments need to be developed and they shall be attractive to small investors. Capital conservation is an important reason for investment in gold. So, giving other avenues can decrease emphasis on gold.

To Remember: gold monetisation scheme

Carry home points: Gold imports are rising trade deficit and other avenues for financial investment need to be developed.

Article: We need to find a way around this jingoism’

Context: Kashmir unrest

Notes: increased media presence and social media penetration are fueling and exaggerating events in Kashmir. Way froward from this is to initiate steps for visible outreach and engagement in kashmir. Government shall develop a developmental narrative with a focus on unemployment, development, deradicalisation.

To Remember:

Carry home points: visible outreach and engagement with civil society is way forward for Kashmir unrest.

News

1. NGO gets notice for alleged FCRA violations.

2. Safeguard rights of online users – A regulatory regime shall be put in place to protect user data.

3. Palestine and Israel must co exist - Prime Minister Modi - India has been unwavering in sup-port of the Palestinian cause and it hopes to see the realization of a sovereign, independent, united and viablePalestine, coexisting peace-fully with Israel. Mr Abbas has reiterated that a futurePalestinian state should bebased on the map of Israeland Palestine that existed be-fore the Six-Day War of 1967 with East Jerusalem as capital.